Tencent and Sony collectively acquire 30% of FromSoftware

destructoid.com:

In the latest in a seemingly endless line of major industry acquisitions, Chinese conglomerate Tencent and Japan’s Sony Interactive Entertainment have collectively bought just over 30% of controlling stock from stellar studio FromSoftware — as announced by FromSoft parent Kadokawa Group.

Tencent subsidiary Sixjoy Hong Kong will take ownership of 16.25% of the purchased shares, while SIE will sire the remaining 14.69%. It is important to note that Kadokawa Group remains the majority shareholder in FromSoftware, owning a huge 69.66% of the Dark Souls studios stock. This “third-party allotment” of shares has been allowed in order to bolster FromSoft’s financial resources, as well as facilitate its growth in overseas territories. The deal is expected to close September 7, 2022.

“FromSoftware is driving the Game Business as it has continually been creating world–famous works, such as Sekiro: Shadows Die Twice and Elden Ring, leveraging its advanced game IP development strength,” wrote Kadokawa in its officious sales document. “With an eye on further expansion of the Game Business, the Group recognizes the enhancement of capabilities for the creation, development and deployment of game IP as one of the Group’s highest priorities. In line with this policy, the Company has decided to have FromSoftware implement fund procurement by way of a Third–Party Allotment to Sixjoy and SIE.”

FromSoftware is the latest studio sell-up its shares, in part or in whole, to Tencent. The holding company already has either full, majority, or partial stock control over a number of major industry players including developers and publishers such as Activision, Supercell, Epic Games, Remedy, Riot Games, PlatinumGames, Bohemia Interactive, Dontnod